Vietnam’s information and communications sector earned revenue of more than VND3.7 quadrillion ($154 billion) in 2023, a year-on-year increase of 1.49 per cent, figures from the Ministry of Information and Communications show.

The sector contributed over VND887.3 trillion ($36.9 billion) to the country’s GDP, up 1.34 per cent year-on-year.

Total employees in the sector stood at over 1.76 million, up 2.72 per cent compared to 2022.

The information and communications technology (ICT) industry recorded turnover of more than VND3.39 quadrillion ($141 billion), growing 1.4 per cent year-on-year.

This includes $127 billion from exporting hardware and electronics, down 4.9 per cent.

The sector targets posting ICT revenue of over VND3.63 quadrillion ($151 billion) in 2024, including $135 billion from hardware and electronics exports.

Enterprises in the sector have been continually rising in number over the past three years, from 42,000 in 2000 to 47,000 in 2023, and 50,000 are anticipated by 2025.